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Deadline for application: 19 April 2020

We are looking for a policy strategist/economist to work in the Policy Strategy and Institutional Relations division. The selected candidate will be responsible for reviewing and providing recommendations on ESM’s stability support framework, in particular on how to design, negotiate, and monitor financial assistance programmes. S/he will contribute to the assessment of macroeconomic and financial risks by designing and maintaining policy review processes and policies, which will apply to analyses of borrowers’ repayment capacity and other activities related to ESM’s role as lender. S/he will report to the Head of Policy Strategy and Institutional Relations.

The European Stability Mechanism (“ESM”) is the permanent crisis resolution mechanism for euro area countries. It has launched five financial assistance programmes, provided financial support, monitored repayment capacity, and engaged with partner institutions for programme design in areas of financial interest. The ESM has recently received an expanded mandate from European leaders, which it will implement in the months and years ahead. The ESM will have a stronger role in following and assessing macroeconomic and financial risks as well as in designing, negotiating, and monitoring financial assistance programmes in collaboration with the European Commission.

The ESM is a unique place to work with around 190 individuals from around the world committed to making a difference to the future of the euro area. It recruits talented professionals of any nationality from both the private and public sector.


  • Design and set up the frameworks for reviewing ESM’s policies related to the analysis of euro area macroeconomic and financial risks;
  • Analyse and provide recommendations on ESM’s stability support frameworks and its role in stability support programmes;
  • Contribute to the assessment of macroeconomic and financial risks in euro area member states from a policy perspective;
  • Translate complex and technical topics into a concise policy line;
  • Produce briefing notes and policy analyses to support the participation of senior ESM staff and the Managing Director in policy forums;
  • Coordinate joint workstreams with European and international institutions to support the work of the ESM;
  • Produce high-quality research on relevant topics related to the ESM’s role as a crisis resolution mechanism;
  • Prepare documents for consideration by ESM boards and committees;
  • Collaborate closely with colleagues in other divisions and departments;
  • Liaise with policymakers and peer organisations, in particular with the European Commission, the European Central Bank and the International Monetary Fund.


  • Graduate at PhD or Master level, preferably in economics or finance;
  • Excellent knowledge of macroeconomics, including quantitative skills;
  • At least eight years of experience in an economist role;
  • Experience in a role analysing and reviewing sovereign lending programmes, financial stability support instruments and/or institutional and operational frameworks of regional financing arrangements, would be a strong asset;
  • Excellent oral and written communication skills in English;
  • IT literacy.


  • Analytical and technical excellence;
  • Team spirit;
  • Intellectual curiosity;
  • Attention to detail, academic rigour;
  • Cultural awareness, capacity to successfully manage conflicts.

Contract duration: Two- to three-year fixed term contract, with possibility of extension

Note: As a result of the selection process, please note that you may be placed on a ‘reserve list’ valid for a duration of six months during which you might be considered for a similar position with a similar level of requirements. Only those candidates who have been notified will be placed on the ‘reserve list’. After this period, you will need to apply again for our vacancies to be considered for a different selection process.

The ESM aims to provide equal opportunity to all candidates irrespective of their gender, nationality, age, race, culture, education, religious beliefs, sexual orientation or disability. To further enhance the diversity of our workforce, we particularly encourage women to apply.

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